It would be a pivotal move for the Reds, who have lost the likes of Maxi Rodriguez and Dirk Kuyt. Unfortunately for the Anfield faithful, the damage does not end there.

The club may also cut ties with a couple of other notables. According to ESPN.com, the Queens Park Rangers are interested in 33-year-old Craig Bellamy. Not to mention, if the Andy Carroll saga finally reaches its inevitable end and he is sold, the club would take a financial loss, per Kieran Daley of Independent.co.uk.

These transactions have made the purchase of Swansea's 22-year-old all the more important. In 31 Premier League fixtures last season, Allen scored four goals and notched two assists—respectable yet unspectacular numbers.

But at this point, Reds manager Brendan Rodgers is looking for any familiar face he can get. Not so long ago, he was in charge of Swansea. That is why this deal makes sense for both Allen and Liverpool.

A Swansea City statement read: "Swansea City can confirm that Liverpool have expressed an interest in Joe Allen, despite a written agreement with Liverpool not to approach any players within the 12-month period of former manager Brendan Rodgers leaving for Anfield."

Liverpool must take an aggressive approach on Allen, as the middle of the pitch would truly benefit from another capable and young talent.

Allen is currently competing for Great Britain in the London Olympics. It remains to be seen what team he will be playing for next.

One thing is for certain: Liverpool can't afford to keep subtracting without adding.